Colonial Penn’s guaranteed issue whole life insurance policy is available for ages 50 to 85. Whole life insurance offers permanent, lifetime coverage. Renewable Term Life Insurance + an Early Payout Option. It always comes with a two year waiting period before it … Their policies are best for those looking for low payouts and those who wouldn’t qualify for underwritten life insurance policies because of medical conditions or poor lifestyle habits. Colonial Penn Life Insurance Company History. It can be one of the most affordable ways to buy life insurance. Colonial Penn primarily markets their guaranteed acceptance whole life insurance which is a policy that has no medical underwriting whatsoever. Protect yourself and your family with a Living Insurance plan. They began offering guaranteed acceptance life back in the 1960s, and … Get the peace of mind that our affordable term life insurance policy offers plus the added security of an Early Payout Option. When selecting an insurance company, it is essential to know about different terms like “guaranteed acceptance” and “whole life insurance” so you can choose wisely. Guaranteed acceptance policies do not require a medical exam and ask very few health questions. Colonial Penn Life Insurance Company was one of the first life insurance companies to offer final expense and other kinds of life insurance for seniors. Based on customer reviews, pricing, and underwriting practices; Colonial Penn is best for customers who can not get guaranteed acceptance life insurance from any other life insurance company. How does this add up? Colonial Penn Life Insurance Company Life Claims Dept PO Box 1918 Carmel, IN 46082-1918 NY Residents: Bankers Conseco Life Insurance Company Life Claims Dept PO Box 1918 Carmel, IN 46082-1918 A claimant’s statement form can be found on Colonial Penn’s website here , but there is no option to file a claim online. Flexible coverage for now (while you’re living) and later for your family. Guaranteed Acceptance Life Insurance is available in New York, and Whole life insurance is available in all states except the Virgin Islands and New York. While … Colonial Penn Life Insurance. In its TV ads, Colonial Penn advertises life insurance coverage starting at $9.95 per month for its Guaranteed Acceptance Life Insurance. Overall, Colonial Penn has a lot of options for people aged 50-85 to choose from. Colonial Penn Life Insurance Company offers three main types of life insurance policies. Colonial Penn offers competitive insurance rates compared to other guaranteed issue life insurance companies. Colonial Penn sells a lot of guaranteed acceptance life insurance policies. More than likely this is the policy you’ve seen advertised on TV. Colonial Penn Life Insurance My grandmother, Dorothy Kathleen Taylor paid for 3 policies. This term policy is guaranteed renewable up to age 90, even if your health has changed. Just about anyone within the right age range (50-85) is guaranteed coverage. Term life insurance is straightforward protection that covers you for a set period of time-the term. Like other final expense life insurance policies, it does not require a medical exam, but is has a graded benefit. Life Insurance Review. If you’re worried about getting approval because of some pre-existing health conditions, Colonial Penn could be a great option, as the company has its guaranteed acceptance life Insurance option. Colonial Penn: An Overview This finance and insurance company was founded over a half-century ago in 1968. There Are 3 Kinds Of Colonial Penn Life Insurance For Seniors. Internet . Guaranteed Issue Life Insurance. 2 for 30 years, one for 20 years and it seems the $41 a month we paid, just gave her $3,100 in benifits. 50 to 85 that covers you for a set period of time-the term, Dorothy Taylor! 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